Asking for advice on a good exit strategy

Trading Systems Free Forex Trading Systems
1

well ill first explain my strategy.

I use a few indication of reversals.

the indicators i use are the Xm7_gravity , 3_Level_ZZsemafor , support and resistance (barry) , stochastic oscillator ( 2 of them 100,3,3 and 5,3,3) and put them on the same chart.

1023×495

my buy signal is

-both sto (100,3,3) and (5,3,3) are both overbaught/oversold

-Xm7_gravity is giving a strong buy sell signal no grey signals here

-3_levels is giving me a strong signal (the large “3”)

  • I draw trendlines to see where it is headed long term (1hr-daily charts)

-to see added resistance levels i use fibs too

this is a sell signal if i was to get it early enough.

460×594

I am asking for advice on how i should have my exit strategy. I was thinking about resistance levels but would like some input.

any comments/suggestions/critique is welcome =)

pip out~

2

You’ll never perfect the exit. Take profit when you can and ensure you’re taking more in than what you’re willing to lose if the trade goes against you.

3

Wow you are fast got your own system already.:slight_smile:
try awesome Oscillator 2 bars in the opposite direction might be good, or just wait for xm7 reversal signal:D

4

thanks for the input ill look at that awesome os.

I just want a conservative profit/loss level. allthough i would like to grab a good amount of the price movement.

I want to set up a rule that i will allways follow as not to have any exits out of a “gut” feeling.

thanks again =)